Guideline Value

Corporate

Guideline Value for ESTATE 2ND MAIN ROAD

₹8800/sq.ft.

The guideline value for Estate 2nd Main Road in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Commercial Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Estate 2nd Main Road

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Estate 2nd Main Road guideline value

The current guideline value of Estate 2nd Main Road in Palavakkam village is Rs 8,800 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Commercial Special Type - I.

How the guideline value of Estate 2nd Main Road has changed

Over the years, the guideline value for Estate 2nd Main Road has seen significant changes. The 2017 revision recorded a value of Rs 5,360 per sq.ft, which increased to Rs 8,000 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision has set the value at Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Estate 2nd Main Road's 2024 guideline value is significantly above this median.

Stamp duty and registration fee for property in Estate 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these charges Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Estate 2nd Main Road?

The Sub Registrar Office that covers Estate 2nd Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Palavakkam

The guideline value plays a crucial role in the registration process of property transactions in Palavakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property in Estate 2nd Main Road, it is essential to be aware of the current guideline value as it directly impacts the financial aspects of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Estate 2nd Main Road?

The current guideline value of Estate 2nd Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,360 per sq.ft in 2017 to Rs 8,000 per sq.ft in 2023, and now to Rs 8,800 per sq.ft in 2024, reflecting significant increases over the years.

What is the land classification of Estate 2nd Main Road?

Estate 2nd Main Road is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Estate 2nd Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.